Ocean Kinetics plans £2m expansion
A marine engineering firm based in Shetland has announced plans for a £2m expansion.
Ocean Kinetics Limited (OKL) provides services for ports, and the oil and gas and renewable energy sectors.
It has reached capacity on its current site in Lerwick and wants to develop larger premises.
The move could lead to the creation of 24 new jobs and is being back by funding from Highlands and Islands Enterprise (HIE).
OKL's main customers include BP, Fortum at the Sullom Voe Terminal, Aberdeen Harbour Board, Dover Harbour Board and Scottish Water.
The firm's new premises at Port Business Park will be energy efficient and include offices, workshops and storage facilities.
The new facility will also house a designated apprentice training area.
HIE is providing £240,000 of funding with a further £500,000 coming through the Regional Selective Assistance (RSA) scheme.
John Henderson, managing director of Ocean Kinetics, said: "The new facility is part of our growth plan which will allow the company to expand as new opportunities arise, a key element of this is the recruiting and the training of new staff to help alleviate the skills shortage locally."
Mark Georgeson, HIE's head of business support, added: "OKL has an excellent reputation and our role is to continue to help management grow the company and provide high quality jobs in Shetland."
The new building is expected to be completed by spring 2012.